Help starting with Forex

[moneymaker1713006090]

Re: Help starting with Forex

 

same here as a new beginner, I've lost $141 for just 2week trading from my deposit $260.

Boy, I feel happy coz I've made profit but the losses s way too much....

 

Any other suggestion... Very difficult to fight ourself :(

[b.gunn]

Re: Help starting with Forex

 

As a beginner, forget any EA or fancy "Get Rich Quick" scheme. The best way is to invest some time and effort into educating yourself before you risk any of your own money - especially if you have none to risk and no job!

 

I would suggest that you find a job so that at least you can provide funds for you and your family for the day to day living, then to put some money aside from those funds for Forex trading (this may take some time to accumulate). Whilst you are building your trading capital, use the vast amount of FREE educational material available on the net through various sites to build up your forex knowledge - I recommend sites like BABYPIPS.COM or FOREXFACTORY.COM. This will give you a good start into learning about forex.

 

I hope this helps a little.

[everlcom]

Re: Help starting with Forex

 

get time to learn more and more and practice more and more... soon u will get wise :D

[pepefv89]

Re: Help starting with Forex

 

HI mui 99 my recomendation to you is to follow a system that uses money managment and efficient stop loss and take profit targets. i am also new to trading and im following the pro fx system not a lot of profit ;)) but is trading on a daily basis :-bd

[wadesworld]

Re: Help starting with Forex

 

Start looking at babypips dot com and forex peace army dot com.

[qwert321]

Re: Help starting with Forex

 

Basically, one should get more knowledge first before venturing into the forex world. besides that, it is of importance to get the hang of the platform one is using as well

[Albert666]

Re: Help starting with Forex

 

Yes babypips.com is a great place to start, forex is great but you need some aptience, you won't be billionaire in a year or two.

[goldcourse]

Re: Help starting with Forex

 

Hi,

 

What will be the minimum amount of money one must has to be able to trade to make a living?

 

Appreciate a response.

 

Thanks

[kenex]

Re: Help starting with Forex

 

I'm new to forex. Just started learning a couple of months ago and I'm now trading live. I have so far traded only 40 trades or so and my account is still about even.

 

I knew that it was too early for me to put real money for this but I'm glad I did. I've learnt that trading live and demo is so much different. I could simply follow my trading plans with demo but it is so hard doing so with live. Trading live has been teaching me so much stuff that I could never learn by trading demo.

[⭐ karbaan]

Re: Help starting with Forex

 

Personally, I feel that "Trading in the Zone" by Mark Douglas is a must read for all, it'll set a right framework for your mind to grapple with the tons of Forex variables and information. Search in the E-book section. ;)

[egor]

Re: Help starting with Forex

 

Start looking at babypips dot com and forex peace army dot com.

 

Although babypips dot com is not a bad one, but they have some restricting rules.

It has some advices anyway.

 

But here you may find a good help also.

[Kandi84]

Re: Help starting with Forex

 

yes a agree with other comment before!

 

go to babypips.com and go to school and do your homework! ;)

[conggle]

Re: Help starting with Forex

 

go to learning market dot com... a lot of stuff u can learn there. i learn a lot from there last time.

[gihaz]

Re: Help starting with Forex

 

forex not the easy way to make the money... its just easy to loss your money...

[Livi1]

Re: Help starting with Forex

 

Everyone starts somewhere. Register a demo account right away and have a look at charts. As questions arise, look for the answers on the net. Simple and effective.

[Izrullah]

Re: Help starting with Forex

 

forex not the easy way to make the money... its just easy to loss your money...

 

Is it true that 95% of forex traders losing money?

[supernova1713006067]

Re: Help starting with Forex

 

Risk management his most important area for the trading and they know about this unfortunately the least the starting traderek. Because of this maybe not chance, that the traderek 90%-a loses and only 10% profitable.

[flib]

Re: Help starting with Forex

 

As soon as you start reading up about forex (online and offline) the first thing you see is dozens of people telling you how hard it is, how 95% traders lose, etc etc. I can't see many people starting off expecting it to be easy.

[jinhar]

Re: Help starting with Forex

 

Start with reading , Trading in the zone by Mark Douglas and Trade your way to financial freedom are an excellent reads .. start with them.

[supernova1713006067]

Re: Help starting with Forex

 

Use stop always

Do be never in the business from an impulse

Do never trade in borrowed money

Do never risk more than your capital 2%-a

Let the proportion of the size of your capital and your position be left over low, 1:at 10 not bigger

 

I guarantee that your money will not run out if you observe these rules and you recognise it the success thingamy.

[sebastian1713006095]

Re: Help starting with Forex

 

I believe the best way to start learning is watching the markets for a few years, but not trading, just watching and learning.

[rex_fo]

Re: Help starting with Forex

 

Start from learning candlesticks and know how to look the market ,news and what time to is best to trend and never trade more than 10% account . Try demo at least 1 month or more than one month ,then just go to live~

[asgard2]

Re: Help starting with Forex

 

Hello everyone,

 

I'm totally new to Forex... I have lost my job and want to make money through Forex... Is that possible... Can anyone give me any ideas where to start?

 

You can do it but it depends on how soon you can afford to wait to make a living.

 

I started out like you about 12 months ago and turned a profit after 3months, with very few losses.

 

This is how I did it (not in order, simultaneously) but it is horses for courses.

 

I went through the CDs called the insider code. They are available from this forum.

I went through Seve Nilsons candlestick charts course also on CD and available from this forum

I wrote a business plan, which made me look in places I wasn't looking. Made me define rules for myself.

I read non stop about all of the news events that would effect trading and I keep track of them.

I found a great EA called Evolution that I traded along side, it taught me the most! I didn't use it live because it has some problems. However I optimized it and it had 133 straight wins on the demo account. That along with the knowledge from the CDs will teach you about trading

I found a site in the UK does comparisons of Brokers and I demo'ed 10 all at once.. can be confusing, you need to keep notes.

 

Once you feel you know what you are doing, the next step is to read and re-read the fine print on these brokers. Finding a good broker is rare. For me Alpari UK was the worst (go figure?) and FXPro the best. This is not a recommendation, just something to keep in mind, you need to do your own research.

 

I started with two 5000 accounts. I withdraw money every other week.

 

Hope this helps you.

[gihaz]

Re: Help starting with Forex

 

 

Is it true that 95% of forex traders losing money?

Yes.. If you dont want to loss, learn with the demo account 1st, also find the expert traders and learn from them.

[vicqua]

Re: Help starting with Forex

 

I am also thinking of quiting my sucky job to be a lone trader, how long does it take to trade psychologically